Wow – Sobering Stat

MORE SENIORS TURNING TO PAYDAY LOANS, STUDY FINDS

Dallas Morning News – March 31, 2013
When the Center for Responsible Lending released its latest report on payday loans, one statistic jumped out at me: More than 25 percent of bank payday loan borrowers are Social Security recipients. This is the latest in a series of studies showing that seniors are carrying more debt at a time in their lives when they can ill afford such a burden.

More seniors turning to payday loans, study finds